FMPA Weekly
A weekly e-newsletter for FMPA members
May 22, 2017
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LAST WEEK
Business Planning and Budget Committee
FMPA’s Business Planning and Budget Committee met last Wednesday and approved: 1) fiscal 2018 Agency budget recommendation to the Executive Committee, 2) fiscal 2018 Agency Allocation recommendation to the Board of Directors, and 3) fiscal 2018/2019 St. Lucie Project budget recommendation to the Board of Directors. The committee will meet June 2 to discuss the fiscal 2018 All-Requirements Project budget and budgets for the Stanton, Stanton II and Tri-City projects. Contact: Mark Larson
ARP Solar Business Model Workshop
FMPA’s ARP Executive Committee held a Solar Business Model Workshop last Wednesday to discuss options that would enable voluntary participation in a solar photovoltaic project. The two options discussed were: 1) making solar energy an Excluded Resource, or 2) adding a solar energy charge (and terms and conditions) to the All-Requirements Project’s rate schedule. Participants favored option two. Staff plan to present option two as an information item at the Executive Committee meeting in June. Meanwhile, staff are continuing to discuss solar power purchase agreements with several potential partners. Contact: Jacob Williams
Audit and Risk Oversight Committee
The Audit and Risk Oversight Committee met last Thursday and approved exercising an option to retain Purvis, Gray and Co. as FMPA’s exteal auditors for fiscal 2017. Three action items were tabled, including: 1) revisions to the power supply and resource planning risk management policy, 2) revisions to the origination risk management policy, and 3) revisions to the contract risk management policy. These items will be discussed at a later meeting. The full agenda package is available on the Portal. Contact: Rich Popp
Board of Directors
FMPA’s Board of Directors met last Thursday and heard four information items, including: 1) an update on the joint action solar photovoltaic project, 2) an update on the annual service confirmation for the FMPA-ECG lineworker safety training program, 3) an overview of the new Member Services Business Development Director/Manager position, and 4) a legislative update on public notices of pollution. The full agenda package is available on the Portal. Contact: Jacob Williams
Executive Committee
The Executive Committee met last Thursday and approved: 1) a revised proposal for an ARP load attraction incentive rate rider to rate schedule B-1, 2) approval of a resolution for series 2017A bonds, and 3) approval of a resolution for series 2017B bonds. The committee agreed to table the revisions to the power supply and resource planning risk management policy for a later meeting. The full agenda package is available on the Portal. Contact: Jacob Williams
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THIS WEEK
Rating Agency Meetings
FMPA staff, along with FMPA’s financial advisor, bond council and underwriters, will meet via conference call on Monday with representatives of Fitch Ratings and Moody’s Investors Service to discuss the All-Requirements Project. The credit rating update is part of refinancing activities for the Series 2011 A-1, 2011 A-2 and 2011 B revenue bonds. Contact: Mark Larson
Member Services Satisfaction Survey
FMPA has extended the deadline for members to complete the biennial Member Services Satisfaction Survey until this Friday. A link to the online survey was provided in an email May 1 from Sharon Smeenk. There is no limit to the number of people at each utility who can take the survey, so the link can be shared with any utility staff member who has input.
Hurricane and Emergency Preparedness Roundtable
The Florida Municipal Electric Association (FMEA) and FMPA will hold a Hurricane and Emergency Preparedness Roundtable on Tuesday at 9:30 a.m. at the Florida Hotel and Conference Center in Orlando. This forum will provide informational updates from the state, lessons leaed from the 2016 hurricane season, a review of operating procedures and the opportunity to network with utility peers. New this year is an afteoon breakout session focused on customer service, communications and community outreach. Registration is $50 per person, available through FMEA’s website. Contact: Sharon Smeenk
ARP Budget Cost Center Teams
FMPA’s All-Requirements Project (ARP) Budget Cost Center Teams will meet Tuesday through Thursday via conference call to discuss the project’s proposed fiscal 2018 budget. The ARP budget process includes detailed reviews for nine cost centers. This is one of the best opportunities to ask questions and lea the details of costs for this project. Contact: Mark Larson
St. Lucie Participants Meeting
Rich Popp, David Schumann, Liyuan Woeer and Jason Wolfe will attend the annual St. Lucie participants meeting on Friday. Discussion topics will include the plant’s operating performance, future cost projections and more. Contact: Rich Popp
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COMING UP
Memorial Day Holiday
FMPA’s offices will be closed May 29 in observance of Memorial Day. Have a safe and happy holiday.
Florida Public Power Update Breakfast
FMPA is hosting a breakfast June 20 for Florida attendees at the American Public Power Association’s National Conference. The breakfast is an opportunity for Florida attendees to gather together and hear an update on the Agency’s goal to provide power that is competitively priced, reliable and clean. The breakfast is being sponsored by Bank of America Merrill Lynch, JP Morgan Chase and Co., and Wells Fargo. An invitation was emailed from Ryan Dumas last Thursday to registered Florida attendees, FMPA’s Board of Directors and alteates, and ARP Executive Committee members and alteates. Contact: Jacob Williams
Safety Compliance for Electric Utilities Course
FMPA will offer a Safety Compliance for Electric Utilities course June 28-29 in Orlando. This two-day course provides an overview of various safety-related requirements specific to electric utilities. This training is for managers, engineers, superintendents, crew leaders and line workers who want a better understanding of OSHA and NESC working rules. Florida Professional Engineers can ea 10 professional development hours for completing this course. The cost to attend is $400 and includes lunch both days. Registration and more information is available on FMPA’s website. Contact: Sharon Smeenk
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INDUSTRY NEWS
JEA Approves Definitive Agreements with FPL to Close St. Johns Coal Plant
JEA’s Board of Directors approved definitive agreements with Florida Power & Light (FPL) last Tuesday to finalize previously announced plans for retiring the St. Johns River Power Park in January 2018. The 1,320 MW coal-fired power plant jointly owned by JEA and FPL came online in the early 1980s. JEA officials said the utility does not need the generating capacity to reliably serve its customers, so retiring the plant will save operating costs and avoid future capital expenditures for environmental compliance. In the agreement, FPL agreed to pay JEA $134 million in exchange for shutting down the facility. Proceeds will be used to pay off the facility’s outstanding revenue bonds.
Florida Tax-Cut Package Sent to Gov. Scott
The Florida Legislature’s $91.6 million tax-cut package for fiscal 2018 was sent last Wednesday to Gov. Rick Scott, falling short of the goveor’s request for $618.4 million in cuts. The package includes a three-day sales tax holiday for hurricane supplies. The goveor has until June 1 to sign, veto or let the bill become law without his signature. If the package becomes law, the disaster preparedness sales tax holiday would be June 2-4, 2017, for certain first-aid kits, tie-down kits, fuel tanks, batteries, food storage coolers, self-powered lights and radios, portable generators and reusable ice.
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FMPA Weekly is published by FMPA for employees and goveing boards of FMPA member utilities. Questions or comments about this newsletter may be directed to Jeff Grainger or Holly Cammisa in FMPA’s Public Relations Department.
Want more background on the names and terms used in this newsletter? Check out FMPA’s Glossary, which features some of the most frequently mentioned committees, companies, places and terms, or contact the person named in each FMPA story to lea more.
Have a question, comment or story idea for the newsletter? FMPA welcomes your feedback at any time. Contact: Jeff Grainger or Holly Cammisa